Pertagas Earns 164 Million US Dollars In Profit Throughout 2022

Illustration (Photo: Doc. Pertagas)

JAKARTA PT Pertamina Gas (Pertagas) recorded a positive performance in 2022 by earning a net profit of 164.7 million US dollars.

President Director of Pertagas, Gamal Imam Santoso said, Pertagas' 2022 net profit increased by 37.5 million US dollars, an increase of 30 percent from the previous year, which was 127.2 million US dollars.

"In accordance with the results of the 2022 Audit Financial Report, the percentage of net profit reaches 111 percent or exceeds the target of the Company's Work Plan & Budget (RKAP). This financial achievement was achieved by achieving gross profit of 117 percent of the cost optimization and contribution of profits from subsidiaries and joint ventures," said Gamal after the implementation of the GMS, Wednesday, May 10.

This achievement, continued Gamal, could not be separated from the increased operational performance achieved by Pertagas in the gas processing and regasification sector.

In the gas processing sector (LPG), the realization reached 104.06 percent of the 2022 RKAP target or 177,049 tons.

Meanwhile, the realization of gas regasification reached 120.31 percent of the 2022 RKAP target or 52,559 BBTU.

In addition, Pertagas' main business line provides the best performance in 2022 with the realization of the distribution volume of 485,808 MMSCF for gas transportation, 14,042 MBOE for oil transportation and 29,217 BBTU for gas trading.

Pertagas' subsidiary and joint venture also contributed to Pertagas' achievement of a net profit that exceeded the target.

PT Perta Arun Gas managed to record a net profit of 44.3 million US dollars or 122 percent higher than RKAP 2022, PT Perta-Samtan Gas posted a net profit of 51.9 million US dollars or 114 percent higher than RKAP 2022, PT Perta Daya Gas recorded a net profit of 2.4 million US dollars or 15 percent higher than RKAP 2022. In addition, Pertagas Niaga also managed to achieve a net profit of 2.7 million US dollars," added Gamal.

Gamal explained, as an effort to expand energy infrastructure and develop the company's strategic business, Pertagas succeeded in completing the construction of the Rokan oil pipeline project which was marked by the first flow in January 2022.

In addition, Pertagas is currently completing the construction of the Seinpah-Balikpapan gas pipeline to supply the needs of the Pertamina Balikpapan Refinery with progress reaching 80 percent